Abound Solar in Longmont is working to win the race for thin-film solar panel manufactures getting to market. Abound Solar employees work at the end of the unique automated production line at their manufacturing plant. The long automated production line can be seen behind Manufacturing Technician Gerald Bryant. Kathryn Scott Osler, The Denver Post

Bankrupt manufacturer Abound Solar suffered an ongoing series of production problems and revenue shortfalls, according to federal documents obtained by the Northern Colorado Business Report.

Quarterly financial filings from Loveland-based Abound to the Department of Energy show that the company failed to meet production and sales goals in each quarter of 2011, the publication said in a story to be released Friday.

Abound drew down about $70 million of guaranteed loans from the DOE out of an approved pool of $400 million
. Abound filed for bankruptcy liquidation and closed its operations in July.

The Northern Colorado Business Report obtained the financial documents from the DOE under a federal Freedom of Information Act request and shared the documents with media outlets including The Denver Post Thursday.

The DOE redacted the documents to remove specific financial results it said constituted “sensitive commercial information.” But wording in the reports shows that Abound was struggling with manufacturing problems, underperforming solar panels and sales below projected levels.

Abound said in the reports that it was forced to spend unbudgeted money to repair or replace defective panels that were sold to customers.

Abound officials had testified in congressional hearings and said publicly that the company’s failure was caused largely by crippling competition from low-cost Chinese solar panels.

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